Largest Supply Glut In A Decade Crashes Nickel Prices ...Middle East

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Largest Supply Glut In A Decade Crashes Nickel Prices
source : OILPRICE ( Middle East ) () 51
Last year,  the nickel markets came into the limelight courtesy of the historic nickel short squeeze that sent nickel prices soaring to an astonishing $100,000 per tonne. The massive surge doubled the previous all-time high over the course of one morning and plunged the London Metal Exchange into an existential crisis. And, just like the famous copper squeeze of more than a century ago, the nickel market snafu was largely linked to enormous short positions held by a single man: Chinese metal trader Xiang Guangda, the founder of China-based Tsingshan…

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